Sega has come to an acquisition agreement with Rovio for a mind-blowing amount of $776 million, all cash. Rovio is the developer of Angry Birds, one of the most popular mobile games of all time.
Rovio has been in talks with a couple of companies for a while, and finally, it reached the final phase with the Japanese gaming giant Sega. Even though the deal won't be completed immediately, Rovio expects the acquisition to be completed in the second quarter of its fiscal year. This means that there is still a couple of months ahead.
"The Board of Directors of Rovio, represented by a quorum comprising all members of the Board of Directors, has unanimously agreed to recommend that the shareholders and the option holders of Rovio accept the Offer," said Rovio in the press release.
"Among the rapidly growing global gaming market, the
mobile gaming market has especially high potential, and it has been SEGA's long-term goal to accelerate its expansion in this field. I am confident that, through combination of both companies' brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward," said Haruki Satomi, president and group CEO of Sega Sammy Holdings.
